Mainstay Capital Management LLC ADV Boosts Holdings in American Electric Power Company, Inc. (NASDAQ:AEP)

Mainstay Capital Management LLC ADV boosted its position in shares of American Electric Power Company, Inc. (NASDAQ:AEP) by 2.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 15,587 shares of the company’s stock after acquiring an additional 323 shares during the period. Mainstay Capital Management LLC ADV’s holdings in American Electric Power were worth $1,438,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Legacy Investment Solutions LLC bought a new stake in American Electric Power during the 3rd quarter worth approximately $25,000. Safe Harbor Fiduciary LLC bought a new stake in American Electric Power during the 3rd quarter worth approximately $33,000. Newbridge Financial Services Group Inc. bought a new stake in American Electric Power during the 4th quarter worth approximately $35,000. Kestra Investment Management LLC bought a new stake in shares of American Electric Power during the fourth quarter valued at approximately $35,000. Finally, Reston Wealth Management LLC bought a new stake in shares of American Electric Power during the third quarter valued at approximately $48,000. Institutional investors own 75.24% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on AEP. Guggenheim upgraded shares of American Electric Power from a “neutral” rating to a “buy” rating in a research report on Thursday, January 23rd. Evercore ISI reduced their price objective on shares of American Electric Power from $97.00 to $96.00 and set an “in-line” rating on the stock in a research report on Thursday, November 7th. Wells Fargo & Company reduced their price objective on shares of American Electric Power from $104.00 to $102.00 and set an “equal weight” rating on the stock in a research report on Thursday, November 7th. UBS Group lifted their price objective on shares of American Electric Power from $91.00 to $95.00 and gave the company a “sell” rating in a research report on Thursday, November 7th. Finally, BMO Capital Markets reduced their price objective on shares of American Electric Power from $108.00 to $100.00 and set an “outperform” rating on the stock in a research report on Friday, January 10th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $98.00.

American Electric Power Stock Up 0.9 %

NASDAQ AEP opened at $105.33 on Monday. The company has a quick ratio of 0.31, a current ratio of 0.44 and a debt-to-equity ratio of 1.46. The company has a fifty day moving average of $96.51 and a two-hundred day moving average of $98.07. The firm has a market capitalization of $56.16 billion, a price-to-earnings ratio of 18.81, a PEG ratio of 2.95 and a beta of 0.58. American Electric Power Company, Inc. has a 52 week low of $79.16 and a 52 week high of $105.73.

American Electric Power (NASDAQ:AEP) last posted its quarterly earnings data on Thursday, February 13th. The company reported $1.24 EPS for the quarter, hitting the consensus estimate of $1.24. American Electric Power had a net margin of 15.08% and a return on equity of 11.27%. During the same quarter last year, the business earned $1.23 earnings per share. On average, analysts predict that American Electric Power Company, Inc. will post 5.87 earnings per share for the current year.

American Electric Power Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Monday, February 10th will be paid a dividend of $0.93 per share. This represents a $3.72 dividend on an annualized basis and a dividend yield of 3.53%. The ex-dividend date of this dividend is Monday, February 10th. American Electric Power’s dividend payout ratio is currently 66.43%.

About American Electric Power

American Electric Power Company, Inc, an electric public utility holding company, engages in the generation, transmission, and distribution of electricity for sale to retail and wholesale customers in the United States. It operates through Vertically Integrated Utilities, Transmission and Distribution Utilities, AEP Transmission Holdco, and Generation & Marketing segments.